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FEDERAL RESERVE statistical release
H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

For release at 4:30 p.m. Eastern Time

Billions of dollars

Date

AUGUST 26, 1993

M1 1

M22

DEBT5

M33
Seasonally adjusted

1991-AUO.
SEP.
OCT.
NOV.
DEC.

867.9
872.4
879.5
891.0
899.3

3417.0
3418.1
3422.5
3435.8
3445.8

4156.3
4150.4
4155.5
4162.8
4168.1

4983.1
4968.5
4972.3
4983.3
4982.2

11073.8
11107.3
11152.0
11198.8
11219.3

1992-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUQ.
SEP.
OCT.
NOV.
DBC.

911.5
926.2
935.1
941.2
952.2
952.6
963.3
975.5
990.1
1005.9
1019.1
1026.6

3451.0
3467.7
3467.8
3464.8
3467.5
3462.1
3463.6
3472.4
3480.2
3491.4
3498.0
3496.8

4172.2
4189.0
4184.9
4177.9
4179.8
4170.1
4169.0
4178.8
4183.0
4180.0
4178.5
4166.4

4978.3
4999.1
5010.1
5009.1
5011.0
5014.8
5012.5
5025.9
5037.4
5040.5
5050.9
5043.6

11249.3
11300.0
11357.7
11410.6
11456.5
11507.0
11553.0
11603.4
11642.3
11669.4
11724.1
11779.7

1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

1033.3
1033.1
1035.3
1043.0
1066.8
1073.3
1085.5

3487.2
3476.3
3473.6
3475.0
3504.8
3511.8
3517.2

4141.3
4136.3
4131.8
4142.5
4171.1
4166.9
4159.2

5018.6
5014.3
5012.1
5028.7
5069.4
5074.2 p

11809.9
11848.2
11900.8
11952.5
12009.5
12073.1 p

Not seasonally adjusted
1991-AUO.
SEP.
OCT.
NOV.
DEC.

864.2
866.9
874.8
893.1
916.4

3413.3
3407.6
3417.0
3438.4
3457.9

4157.8
4140.7
4145.7
4167.7
4178.1

4975.7
4959.0
4961.7
4994.9
5004.2

11029.5
11074.4
11126.6
11176.9
11209.4

1992-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DBC.

917.3
916.0
930.5
954.7
943.9
951.9
962.5
970.4
982.8
1000.9
1021.5
1045.8

3456.0
3462.3
3474.8
3486.5
3452.5
3457.2
3461.0
3466.8
3467.8
3485.7
3500.8
3511.1

4174.1
4186.5
4195.2
4195.0
4167.1
4165.0
4163.6
4178.5
4171.5
4170.0
4183.8
4178.5

4993.2
4999.6
5023.4
5024.9
4988.0
5001.9
4996.3
5015.9
5026.7
5029.7
5063.7
5068.1

11236.8
11268.3
11318.0
11367.4
11408.1
11457.8
11507.7
11565.6
11615.3
11648.0
11705.4
11771.3

1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

1040.2
1022.2
1030.8
1058.2
1057.6
1072.7
1084.2

3493.0
3470.3
3480.5
3498.5
3489.2
3507.4
3513.7

4143.9
4133.7
4141.7
4161.6
4157.6
4162.0
4152.8

5035.2
5014.6
5025.8
5046.5
5044.1
5061.1 p

11796.4
11814.8
11861.2
11910.7
11962.5
12025.4 p

Footnotes appear on the following page
p

preliminary




Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M1

M2

M3

DEBT1

3 Months from APR. 1993 TO JULY 1993

16.3

4.9

1.6

5.8

6 Months from JAN. 1993 TO JULY 1993

10.1

1.7

0.9

5.0

12 Months from JULY 1992 to JULY 1993

12.7

1.5

-0.2

4.9

Thirteen weeks ending AUGUST 16, 1993
from thirteen weeks ending:
MAY 17, 1993 (13 weeks previous)

14.2

3.9

1.8

FEB. 15, 1993 (26 weeks previous)

10.0

1.4

0.4

AUG. 17, 1992 (52 weeks previous)

12.5

1.4

-0.2

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, March 1993 to June 1993, December 1992 to June 1993,
and June 1992 to June 1993, respectively.

Footnotes to Table 1:

1.

2.

5.

Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of nonbank issuers; (3) demand
deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process
of collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS)
accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
Consists of M1 plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreign branches of U.S.
banks worldwide, savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits—including retail RPs—in amounts of less than
$100,000), and balances in both taxable and tax-exempt general purpose ana broker/dealer money market mutual funds. Excludes individual retirement account (IRA) and
Keogh balances at depository institutions and money market funds. Also excludes all balances held by U.S. commercial banks, money market funds (general purpose and
broker/dealer), foreign governments and commercial banks, and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-M1 component as a whole and
then adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository institutions, term Eurodollars held by
U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada, and balances in both taxable and tax-exempt institution-only money market mutual funds. Excludes amounts held by depository institutions, the U.S. government, money market funds, and foreign banks and official institutions.
Also subtracted is the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting
its non-M2 component as a whole and then adding this result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, snort-term Treasury securities, commercial paper and bankers acceptances, net of money market
mutual fund holdings of these assets.
Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local governments and private nonfinancial sectors. Private
debt consists of corporate bonds, mortgages, consumer credit (including bank loans), other bank loans, commercial paper, bankers acceptances and other debt instruments.
The data are derived from the Federal Reserve Board's flow of funds accounts. All data on debt of domestic nonfinancial sectors are presented in month-average form, derived
by averaging adjacent month-end levels. These data have also been adjusted to remove statistical discontinuities that may arise in the underlying flow of funds statistics. The
presentation of debt data in this release differs, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases,
published levels of credit market debt are measured on a quarter-end basis and include discontinuities.




Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted

M
1
Period ending

M3

M2

24
31

13-week
average
1045.7
1048.6

4-week
average
1063.2
1068.0

week
average
1065.1
1074.0

13-week
average
3482.4
3484.6

4-week
average
3501.3
3506.1

week
average
3504.6
3507.1

13-week
average
4146.8
4148.6

4-week
average
4171.2
4171.7

week
average
4168.1
4162.8

JUNE

7
14
21
28

1051.6
1054.5
1057.4
1060.4

1069.8
1070.4
1072.8
1073.3

1072.2
1070.2
1074.8
1076.0

3487.8
3491.1
3494.4
3496.7

3509.2
3511.2
3513.7
3513.1

3517.2
3516.0
3514.5
3504.5

4151.8
4154.9
4158.2
4159.8

4170.3
4169.3
4170.0
4168.3

4174.0
4172.2
4170.8
4156.3

JULY

5
12
19
26

1063.2
1066.3
1069.8
1073.3

1074.7
1078.3
1080.7
1083.4

1077.8
1084.7
1084.4
1086.5

3498.9
3502.0
3505.8
3509.5

3509.9
3510.3
3511.1
3514.7

3504.4
3517.6
3518.0
3518.6

4161.8
4163.2
4165.5
4165.8

4164.3
4161.5
4160.0
4158.8

4157.7
4161.2
4164.7
4151.4

AUG.

2
9P
16p

1076.1
1078.2
1080.3

1086.7
1088.4
1091.3

1091.3
1091.5
1095.7

3512.1
3513.0
3514.4

3519.0
3518.9
3520.9

3521.6
3517.2
3526.1

4165.5
4163.7
4162.8

4158.6
4157.1
4157.3

4156.9
4155.4
4165.4

1993-MAY

Not seasonally adjusted
24
31

1045.9
1048.9

1055.1
1057.1

1042.3
1059.4

3487.9
3489.3

3486.5
3489.0

3473.9
3486.8

4152.6
4153.5

4156.8
4157.3

4141.9
4148.4

JUNE

7
14
21
28

1052.4
1056.1
1059.3
1062.0

1062.4
1067.0
1073.4
1072.4

1085.5
1080.7
1068.1
1055.3

3492.2
3495.2
3497.6
3498.1

3496.6
3504.4
3511.4
3508.5

3529.5
3527.2
3501.9
3475.5

4156.4
4159.0
4161.1
4160.4

4161.3
4166.9
4170.8
4164.3

4189.8
4187.6
4157.4
4122.4

JULY

5
12
19
26

1064.7
1066.7
1067.9
1070.0

1075.0
1078.9
1082.6
1085.1

1096.0
1096.1
1083.0
1065.3

3498.5
3499.2
3499.9
3501.8

3505.3
3506.8
3509.9
3514.1

3516.7
3532.9
3514.4
3492.3

4160.1
4158.8
4158.3
4157.3

4155.7
4151.6
4152.2
4153.1

4155.4
4171.0
4159.9
4126.2

AUG.

2
*P
16p

1072.3
1075.0
1077.7

1081.6
1082.5
1085.9

1081.9
1099.7
1096.7

3504.3
3506.4
3508.8

3512.2
3510.7
3513.9

3509.1
3526.8
3527.3

4157.5
4157.1
4157.7

4151.4
4150.8
4153.9

4148.6
4168.3
4172.6

1993-MAY

Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision,
p

preliminary data.




Page 4

H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Nontransactions components

Other checkable deposits
Currency1

Date

Travelers checks2

Demand deposits3

At commercial
banks 4

At thrift
institutions5

Total

lnM2«

In M3 only7

1992-MAR.

271.9

7.7

308.0

252.1

95.5

347.5

2532.7

717.1

APR.
MAY
JUNE

273.6
275.1
276.6

7.7
7.7
7.7

310.8
314.7
312.3

253.4
258.8
259.1

95.7
96.0
96.8

349.0
354.7
355.9

2523.7
2515.3
2509.5

713.1
712.3
708.0

JULY
AUG.
SEP.

279.5
282.4
286.3

317.5
322.5
329.0

261.1
264.1
266.6

97.5
98.7
100.1

358.6
362.8
366.7

2500.3
2496.9
2490.2

705.4
706.4
702.8

OCT.
NOV.
DEC.

288.0
289.8
292.3

336.0
339.5
340.9

271.9
278.7
281.2

101.9
103.0
104.0

373.
381.
385.

2485.5
2478.8
2470.2

688.5
680.5
669.6

1993-JAN.
FEB.
MAR.

294.8
296.9
299.0

341.
341.
342.

283.5
283.2
284.0

105.2
103.2
102.4

388.
386.
386.

2453
2443
2438,

654.0
660.0
658.2

APR.
MAY
JUNE

301.
304.
306.8

347.
359.
360.

283.2
290.8
292.1

103.1
104.7
105.8

386.
395.
397.

2432.
2437.
2438.

667.5
666.3
655.1

JULY

309.6

7.9

365.8

294.8

107.4

402.3

2431.7

642.1

307.7
309.0

8.0
8.0

361.6
360.9

292.1
292.5

105.3
105.7

397.4
398.2

2439.8
2428.5

656.2
651.8

361.9
365.7
365.7
365.2

293.4
295.2
294.7
295.6

106.4
107.5
107.1
107.5

399.8
402.6
401.8
403.1

2426.5
2432.8
2433.6
2432.1

653.4
643.7
646.7
632.8

369.6
368.6
372.4

294.6
295.6
296.2

108.4
108.4
107.5

403.0
404.0
403.7

2430.4
2425.8
2430.3

635.3
638.2
639.3

Wgdc »nfling
1993-JUNE 21
28
JULY

5
12
19
26

308.2
308.6
309.0
310.3

7.9
7.9
7.9
7.9

AUG.

2

310.8
311.0
311.8

7.8
7.8
7.9

16p

1.
2.
3.
4.
5.
6.
7.
e

e
e

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official
Institutions, less cash items in the process of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and
small time deposits. This sum is seasonally adjusted as a whole.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and
Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole.
estimated




p

preliminary

H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

Total

General
purpose and
broker/dealer
money
market funds

1992-MAR.

695.6

398.7

1094.3

571.2

432.8

1004.0

358.0

192.2

330.0

77.4

407.4

APR.
MAY
JUNE

703.9
709.3
713.3

403.6
410.3
412.7

1107.5
1119.6
1126.0

567.9
560.0
552.9

418.2
409.6
402.8

986.1
969.6
955.7

354.5
354.9
353.5

195.9
202.2
206.3

326.6
323.0
317.7

75.5
73.0
71.7

402.1
395.9
389.3

JULY
AUG.
SEP.

719.5
727.6
737.2

415.0
418.2
421.7

1134.5
1145.7
1158.9

544.6
535.6
527.5

396.9
391.3
385.2

941.5
926.9
912.7

350.4
348.9
343.9

212.5
220.9
220.7

311.0
307.8
303.5

71.5
70.3
70.2

382.5
378.1
373.7

OCT.
NOV.
DEC.

746.1
752.5
756.1

424.4
427.9
429.9

1170.5
1180.4
1186.0

519.9
511.9
506.9

376.6
369.9
363.2

896.5
881.7
870.1

346.3
343.7
342.3

210.9
209.2
202.3

296.8
292.8
290.2

70.2
68.5
67.3

367.0
361.3
357.5

1993-JAN.
FEB.
MAR.

754.1
755.8
754.0

430.2
426.6
424.8

1184.4
1182.4
1178.8

502.6
504.0
501.8

358.7
352.1
349.2

861.3
856.1
851.1

339.5
333.6
333.1

197.7
201.9
200.9

283.7
280.8
275.9

67.1
65.5
64.5

350.7
346.3
340.5

APR.
MAY
JUNE

756.1
764.9
769.0

425.5
428.7
429.7

1181.6
1193.7
1198.7

497.1
492.7
488.4

347.1
344.7
341.4

844.2
837.4
829.8

331.8
336.8
336.5

200.4
202.8
198.1

280.9
281.6
278.8

65.1
64.3
63.8

346.0
345.9
342.6

JULY

769.5

430.6

1200.0

483.2

338.0

821.1

336.3

195.0

274.1

63.7

337.8

767.9
767.6

429.7
430.6

1197.6
1198.2

488.5
486.6

340.9
340.3

829.4
827.0

336.6
334.1

197.4
196.6

279.0
277.2

63.8
64.2

342.8
341.3

Small-denomination time deposits2

Savings deposits1
Date

Wegk gating
1993-JUNE 2 1
28

Institutiononly money
market funds

Large-denomination time deposits3
At
commercial
banks 4

At
thrift
institutions

Total

JULY

5
12
19
26

768.3
771.4
769.5
767.9

430.4
430.4
430.6
430.5

1198.7
1201.8
1200.1
1198.4

485.9
484.5
482.8
481.9

339.0
338.4
338.3
337.4

824.9
822.8
821.1
819.3

333.8
336.9
336.5
336.7

204.1
195.4
194.0
192.0

276.7
275.6
273.8
271.8

64.3
63.8
63.7
63.6

341.1
339.4
337.5
335.3

AUG.

2

768.9
773.2
774.7

430.6
430.7
430.9

1199.5
1203.9
1205.6

480.9
479.3
479.0

336.8
335.9
335.6

817.6
815.3
814.6

337.0
336.0
334.4

192.1
188.5
193.6

272.8
274.1
274.6

63.5
63.4
63.1

336.3
337.5
337.6

16p
1.
2.
3.
4.

Savings deposits include money market deposit accounts.
Small-denomination time deposits^including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and
thrifts are subtracted from small time deposits.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks and official
institutions.

 preliminary
p


Page 8
H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Small-denomination time deposits2

Savings deposits1
Date

•

purpose and
broker/dealer
money
market funds

Institutiononly money
market funds

At
commercial
banks 4

At
thrift
institutions

Total

194.9

330.9

77.6

408.6

361.1
352.9
349.9

194.9
202.3
202.4

325.7
324.8
319.3

75.3
73.4
72.0

400.9
398.2
391.3

941.7
927.2
913.8

345.8
346.2
341.4

209.0
220.6
216.6

310.
309.
303.

71.
70.
70.

382.1
379.7
374.2

377.4
370.3
363.8

898.6
882.9
871.4

343.4
341.9
340.0

206.3
209.5
202.4

296.
292.
289.

70.
68.
67.

366.0
361.2
356.2

504.4
504.6
501.2

360.0
352.6
348.7

864.4
857.2
849.9

339.1
339.8
342.2

202.3
210.3
203.6

281.7
280.3
276.8

66.
65.
64.

348.
345.
341.

1189.1
1195.3
1203.8

495.9
490.5
486.5

346.2
343.1
340.1

842.2
833.6
826.7

338.1
335.1
333.3

199.5
203.0
194.3

280.
283.
280.

64.
64.
64.

345.
348.
344.

432.1

1204.3

483.1

337.9

821.1

332.0

191.8

273.7

63.7

337.4

770.3
766.2

431.1
429.8

1201.4
1196.0

486.3
485.2

339.4
339.4

825.8
824.6

333.7
330.4

195 .7
192 .5

279.6
276.8

63.9
64.1

343.
340.

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

1992-MAR.

698.7

400.4

1099.0

570.6

432.3

1002.9

367.7

APR.
MAY
JUNE

708.0
710.0
716.1

406.0
410.7
414.3

1113.9
1120.6
1130.5

566.7
557.7
551.0

417.3
407.9
401.4

984.0
965.6
952.4

JULY
AUG.
SEP.

721.9
728.2
735.4

416.3
418.5
420.6

1138.2
1146.7
1156.0

544.7
535.8
528.1

397.0
391.4
385.7

OCT.
NOV.
DEC.

744.4
751.9
752.3

423.4
427.5
427.8

1167.9
1179.4
1180.0

521.1
512.5
507.7

1993-JAN.
FEB.
MAR.

749.5
753.1
757.5

427.6
425.1
426.8

1177.1
1178.3
1184.4

APR.
MAY
JUNE

760.9
766.0
772.3

428.2
429.3
431.5

JULY

772.2

Week endina
1 9 9 3 -JUNE 2 1
28

Large-denomination time deposits3

Total

JULY

5
12
19
26

771.2
776.8
773.0
768.5

432.0
433.4
432.6
430.9

1203.2
1210.2
1205.6
1199.3

486.0
484.6
482.7
481.7

339.1
338.5
338.3
337.3

825.0
823.1
821.0
819.1

325.0
333.0
333.4
333.6

184,.8
190,. 1
196,.3
1 9 2 ..0

275.8
275.6
273.3
271.3

64.1
63.8
63.5
63.4

340.
339.
336.
334.

AUG.

2

769.6
777.1
777.9

431.0
432.9
432.7

1200.6
1210.0
1210.6

480.8
479.9
479.2

336.7
336.4
335.7

817.5
816.3
814.9

333.4
332.1
331.1

1 9 4 ..5
1 8 7 ..4
1 9 4 ..5

273.1
274.6
275.7

63.6
63.5
63.3

336.7
338.1
339.0

16p
1.
2.
3.
4.

Savings deposits include money market deposit accounts.
Small-denomination time deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial
banks and thrifts are subtracted from small time deposits.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks
and official institutions.

p
 preliminary


Page 6
H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components4

Non-M3 Components of L

Date
Savings bonds

Short-term Treasury
securities1

Bankers acceptances2

Commercial paper3

Federal debt

Non-Federal debt

1992-MAR.

325.1

22.2

336.7

2841.7

8516.0

APR.
MAY
JUNE

142.4
143.5
144.6

325.9
329.4
330.1

21.8
22.0
22.0

341.0
336.4
348.1

2877.3
2908.5
2943.8

8533.3
8548.0
8563.2

JULY
AUG.
SEP.

145.8
147.4
149.3

324.8
322.9
320.9

21,
21,
20.

351.2
355.7
363.4

2968.2
2991.6
3004.1

8584.9
8611.8
8638.2

OCT.
NOV.
DEC.

151.9
154.7
156.8

320.1
325.0
331.6

20,
20,
20.

368.0
372.4
368.4

3001.5
3027.9
3069.0

8667.9
8696.2
8710.7

1993-JAN.
FEB.
MAR.

158.9
161.1
162.7

337.0
340.9
338.0

20,
20,
19.

360.7
355.9
360.3

3076.3
3090.0
3128.5

8733.7
8758.2
8772.4

APR.
MAY
JUNE

1.

141.3

163.9
164.8
165.7

337.5
345.9
351.9

19,
19.
18.

365.5
368.2
371.4

3156.8
3185.5
3220.5

8795.7
8824.0
8852.6

p

2.
3.
4.

Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market
mutual funds, and foreign entities.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds.
Total commercial paper less commercial paper held by money market mutual funds.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

p

preliminary




H.6 (508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Travelers
checks2

Demand
deposits3

271.0

7.4

APR.
MAY
JUNE

273.3
275.7
277.2

JULY
AUG.
SEP.

Date

Nontransactions components

Other checkable deposits

rifjh
tRPs 8

Overniight
Eurodol lars9

At commercial
banks4

At thrift
institutions5

Total

lnM2«

302.6

254.1

95.4

349.5

2544.3

720.4

54 . 1

2 0 . .6

7.3
7.4
7.8

313.8
308.3
311.4

261.3
255.7
257.7

98.9
96.8
97.8

360.2
352.5
355.5

2531.8
2508.6
2505.3

708.6
714.6
707.8

53 .4
50 .8
52 .7

19, .3
1 8 , .7
19. .8

280.8
282.9
284.6

8.2
8.4
8.5

317.7
319.8
326.1

257.7
260.8
264.0

98.2
98.4
99.6

355.9
359.2
363.6

2498.5
2496.4
2485.0

702.6
711.7
703.6

53 .4
59 . 4
56 . 1

19, .4
16 .8
17 .7

OCT.
NOV.
DEC.

287.
290.
295.

8.4
7.9
7.8

336
343
355

268.
277.
284.

100.8
102.7
103.7

368.8
379.7
387.7

2484.8
2479.3
2465.3

684.3
683.0
667.4

55 . 1
54 .2
52 . 5

19 .9
20 .9
2 1 .3

1993-JAN.
FEB.
MAR.

293,
295.
297.

346,
334,
336,

289.
284.
286.

103.
100.
102.

392.7
384.9
388.8

2452.8
2448.1
2449.7

650,
663.
661.

54 .5
55 .9
57 . 1

17 . 8
17 .0
16 . 1

APR.
MAY
JUNE

301,
304.
307.

350.
352.
359.

291.
287.
290.

106.
105.
107.

398.5
393.2
397.6

2440.3
2431.6
2434.7

663.
668.
654.

56 .3
54 .2
57 . 1

14. .7
13, .5
1 3 . .7

JULY

311.1

8.4

365.5

290.9

108.2

399.2

2429.5

639.1

58.7

13.5

307.7
307.0

8.2
8.3

356.1
352.8

290.3
283.7

105.8
103.4

396.0
387.2

2433.8
2420.2

655.5
647.0

58.6
55.1

14.4
14.1

1992-MAR.

In M3 only7

W99)t gnfllnq
1993-JUNE 21
28
JULY

5
12
19
26

311.2
311.5
310.7
310.1

8.3
8.4
8.4
8.5

372.2
371.0
366.5
354.9

293.6
294.6
289.8
287.0

110.5
110.6
107.5
104.9

404.2
405.1
397.3
391.9

2420.7
2436.9
2431.4
2427.0

638.7
638.1
645.5
633.8

53.2
58.6
58.6
61.2

14.3
11.9
12.9
13.7

AUG.

2

310.4
314.2
313.3

8.6
8.5
8.6

365.9
369.4
373.6

289.0
296.4
293.0

108.0
111.1
108.3

397.0
407.6
401.3

2427.2
2427.2
2430.6

639.5
641.5
645.2

60.6
54.8
59.8

15.2
13.9
14.2

16p

1.
2.
3.
4.
5.
6.
7.
8.
9.

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank Issuers. Travelers checks issued by depository institutions are included in demand deposits.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official
institutions, less cash items in the process of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and
Eurodollars held by institution-only money market mutual funds.
Consists of overnight and continuing contract RPs Issued by all depository institutions to other than depository institutions and money market mutual funds (general purpose and broker/dealer).
Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds (general purpose and broker/dealer).


e
estimated


p

preliminary

Page 9
H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs1
Date

Debt components*

Non-M3 Components of L

At commercial
banks

At thrift
institutions

Total

Term
Eurodollars2

1992-MAR.

52.5

21.8

74.3

58.0

141.4

327.1

21.8

338.0

2834.7

8483.3

APR.
MAY
JUNE

53.3
55.6
55.3

20.8
20.8
21.1

74.1
76.4
76.4

54.9
52.8
51.9

142.7
143.9
144.9

321.0
320.0
321.4

21.3
21.6
21.7

345.0
335.4
348.8

2863.5
2884.1
2912.2

8504.0
8524.0
8545.7

JULY
AUG.
SEP.

53.
55.
57.8

21.
20.
19.8

75.1
75.8
77.6

51.1
51.4
49.4

146.0
147.4
149.2

315.9
319.2
322.6

21.6
20.9
20.2

349.3
349.9
363.2

2937.5
2970.3
2993.9

8570.3
8595.3
8621.4

OCT.
NOV.
DEC.

59,
61,
60,

20.3
20.5
20.3

79
81,
80,

48.1
47.2
45.6

151.8
154.4
156.4

322.9
334.3
345.5

20.4
20.8
21.4

364.7
370.4
366.3

2998.1
3028.3
3069.8

8649.9
8677.1
8701.5

1993-JAN.
FEB.
MAR.

58,
59,
63,

21.
22.
22.8

79,
82,
85.8

43.
47,
50.

158.6
161.0
162.9

343.5
340.5
340.4

21.5
20.3
19.0

367. 7
359. 1
361. 7

3076.2
3087.3
3121.4

8720.2
8727.5
8739.7

APR.
MAY
JUNE

64.8
63.8
65.7

23.
24.
23.

88.
88.
89.

50.2
51.8
49.7

164.2
165.2
166.1 p

332.1
335.7
342.9 p

18.8
19.0
18.1

369. 9
366. 6
372. 0 P

3142.9
3161.1
3188.9 p

8767.8
8801.4
8836.5 p

JULY

67.1

25.0

92.2

46.0

65.1
66.3

23.7
24.0

88.8
90.3

49.0
49.1

WgQft ending
1993-JUNB 21
28
JULY

5
12
19
26

67.2
68.1
67.0
66.8

24.4
24.6
24.9
25.6

91.6
92.7
91.8
92.5

2

66.4
70.5
67.1

25.8
25.6
25.5

92.1
96.1
92.6

Bankers
acceptances4

Commercial
paper9

Federal debt

Non-Federal
debt

45.6
44.8
46.2
46.4

AUG.

Savings bonds

Short-term
JVgJjj^

47.2
47.5
48.0

16p

1. Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs.
2. Term Eurodollars are those with original maturities greater than one day. Consists of those issued to U.S. residents by foreign branches of U.S. banks world-wide and by all

4.
5.
6.

banking offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds.
Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money marKet
mutual funds, and foreign entities.
„ ,
. .
.
. . . .
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual tunas.
Total commercial paper less commercial paper held by money market mutual funds.
^^..i+i^
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

p

preliminary




Page 10

H.6(508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits
at banks due to
Date

Foreign
commercial
banks

Foreign
official
institutions

1992-MAR.

7.8

1.4

APR.
MAY
JUNE

8.2
8.0
8.1

JULY
AUG.

8.6
7.9
8.5

OCT.
NOV.
DEC.

8.5
8.3
8.9

1.6
1.6
1.6

1993-JAN.
FEB.
MAR.

8.7
8.8
8.6

1.4
1.5
1.6

APR.
MAY
JUNE

8.0
8.4
8.2

JULY

8.5

1.6

8.2
8.0

Time and
savings
deposits due
Demand
to foreign
deposits at
banks and
commercial
official
banks
institutions

Week e n d i n g
1993-JUNB 21
28

U.S. government deposits
Balance
at
Federal
Reserve

Note
balances at
depository
institutions

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
deposits at
banks

At
commercial

5.6

15.9

25.7

2.2

147.8

130.8

43.8

322.4

6.8
7.3
7.8

5.8
4.2
5.2

4.9
5.2
6.7

11.9
16.8
19.9

22.6
26.2
31.8

2.5
2.6
2.6

148.4
148.6
147.9

130.2
129.5
129.0

43.9
43.8
43.1

322.4
321.9
320.1

3.7
3.9
5.4

5.9
5.7
10.6

15.9
18.5
23.2

25.5
28.0
39.2

2.5
2.5
2.5

147.6
147.5
147.6

127.7
125.8
125.0

43.1
43.2
43.0

318.4
316.4
315.5

4.2
4.1
5.2

5.8
5.5
6.0

17.7
12.4
14.3

27.7
21.9
25.5

2.5
2.7
2.6

147.6
147.2
147.2

124.1
123.1
122.0

44.6
46.2
45.4

316.3
316.5
314.6

6.1
4.3
4.2

7.7
5.9
5.4

27.
25.
13.

40.8
35.4
22.8

2.0
2.5
2.3

147.2
146.9
147.7

120.6
119.4
117.9

45.1
45.2
45.2

•
•
•

312.9
311.6
310.8

5.8
4.2
5.4

6.2

5.8
8.1

14.
16.
21.

26.5
26.1
34.6

1.4
2.5
2.9

148.0
147.0
146.8

116.7
116.3
114.8

45.0 •
44.8 a
44.5 •

309.7
308.2
306.1

7.7

4.2

6.9

21.4

32.5

2.7

147.0

112.7 a

44.3 e

304.0 a

1.5
1.4

7.7
7.7

9.7
3.6

7.7
13.9

29.0
36.3

46.4
53.9

3.1
3.1

7.7
7.7
7.7

8.5
8.8
8.4
8.5

1.6
1.9
1.4
1.6

7.7
7.7
7.7
7.7

5.0
4.0
4.7
3.2

11.6
6.4
6.2
5.7

29.1
20.2
16.8
20.1

45.7
30.6
27.8
29.0

0.9
3.1
3.0
3.0

AUG.

2
*P
16p

8.3
8.3
8.3

1.5
1.7
1.6

7.7
7.7
7.7

4.8
3.5
4.2

5.8
6.0
5.2

23.6
20.4
20.1

34.1
29.9
29.5

3.0
3.1
3.1




Total

4.2

5
12
19
26

estimated
preliminary

At

money
market
funds

6.9

JULY

e
p

banks

At
•£?**
. ™f
institutions

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
June 30,1993 and July 28,1993
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)

June 30
l09

July 28
l06

Change
(b.p.)
-3

0.39
0.16
1.19

2.61
N.A.
N.A.

2.59
N.A.
N.A.

-2
N.A.
N.A.

30,733
112,573
155,988
143,575
180,996

-3.30
-2.48
0.19
-1.04
1.05

2.68
2.98
3.18
3.64
4.44

2.67
2.97
3.18
3.64
4.43

-1
-1
0
-0
-1

147,020

0.09

N.A.

N.A.

N.A.

Liability Categories
NOW Accounts

June 30
287,325

July 28
284,366

Savings Deposits2
Personal
Nonpersonal

754,756
592,508
162,247

757,664
593,478
164,185

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over

31,783
115,441
155,686
145,080
179,122

All IRA/Keogh Plan deposits3

146,888

Change
(percent)
4XB

Average Rate Paid (%)

BIF-insured Savings Banks
Amount Outstanding ($mil.)

June 30
2M

July 28

zm

Change
(b.p.)
-5

1.07
0.56
13.94

2.88
N.A.
N.A.

2.83
N.A.
N.A.

-5
N.A.
N.A.

2,870
13,758
18,419
16,319
19,246

-5.25
-0.59
-0.24
1.39
1.08

2.86
3.17
3.43
3.79
4.74

2.80
3.15
3.40
3.75
4.73

-6
-2
-4
-5
-1

19,937

0.34

N.A.

N.A.

N.A.

Liability Categories
NOW Accounts

June 30
10,407

July 28
10,512

Savings Deposits2
Personal
Nonpersonal

77,607
74,674
2,932

78,434
75,093
3,341

Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over

3,029
13,840
18,463
16,096
19,041

All IRA/Keogh Plan deposits3

19,870

Change
(percent)
L01

Average Rate Paid (%)

N.A. -- data are not available
NOTE: Data for earlier month may show revisions.
1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial
banks and 80 savings banks. All rates are expressed as annual effective yields.
2. Includes personal and nonpersonal money market deposit accounts.
3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
4. BIF-insured savings banks include both mutual and federal savings banks.